On Tuesday, India’s Livspace said it crossed the billion-dollar valuation mark after raising $180 million in a late-stage funding round led by KKR & Co. It looks to double down on the international expansion and take on local competitors.

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The home renovation platform is the 86th “unicorn” from India, according to Venture Intelligence Unicorn Tracker, in a period of record funding in Indian start-ups that saw 43 firms join the club last year alone.

Swedish retailer Ikea, among other early backers Jungle Ventures, Venturi Partners and Peugeot Investments, also invested in the round.

Livspace, a Singapore-registered firm with significant operations in India, has raised about $450 million to date.

“Our business is growing exponentially in both India and Singapore, and we aim to replicate this playbook, launch new solutions and accelerate our launches across new markets with operations across APAC, MENA and Australia,” Chief Executive Officer and
co-founder Anuj Srivastava said in a statement.